A

AMERICAN AIRLINES GROUP INC.

AAL · CIK 0000006201

18 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$54.63B0.8%
FY2025
Net income (FY)
$111.0M86.9%
FY2025
Free cash flow (FY)
−$680.0M152.3%
FY2025
Diluted EPS (FY)
$0.1786.3%
FY2025
The story, charted

The shape of the business

FY2013–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$20B$40BFY2013 · Revenue $26.74B · Net income −$1.83B · 0001193125-16-474605 · filed 2016-02-24FY13Revenue $26.74BNet income −$1.83B0001193125-16-474605 · filed 2016-02-24FY2014 · Revenue $42.65B · Net income $2.88B · 0001193125-17-051216 · filed 2017-02-22FY14Revenue $42.65BNet income $2.88B0001193125-17-051216 · filed 2017-02-22FY2015 · Revenue $40.99B · Net income $7.61B · 0000006201-18-000009 · filed 2018-02-21FY15Revenue $40.99BNet income $7.61B0000006201-18-000009 · filed 2018-02-21FY2016 · Revenue $40.14B · Net income $2.58B · 0000006201-19-000009 · filed 2019-02-25FY16Revenue $40.14BNet income $2.58B0000006201-19-000009 · filed 2019-02-25FY2017 · Revenue $42.62B · Net income $1.28B · 0000006201-20-000023 · filed 2020-02-19FY17Revenue $42.62BNet income $1.28B0000006201-20-000023 · filed 2020-02-19FY2018 · Revenue $44.54B · Net income $1.41B · 0000006201-21-000014 · filed 2021-02-17FY18Revenue $44.54BNet income $1.41B0000006201-21-000014 · filed 2021-02-17FY2019 · Revenue $45.77B · Net income $1.69B · 0000006201-22-000026 · filed 2022-02-22FY19Revenue $45.77BNet income $1.69B0000006201-22-000026 · filed 2022-02-22FY2020 · Revenue $17.34B · Net income −$8.88B · 0000006201-23-000018 · filed 2023-02-22FY20Revenue $17.34BNet income −$8.88B0000006201-23-000018 · filed 2023-02-22FY2021 · Revenue $29.88B · Net income −$1.99B · 0000006201-24-000010 · filed 2024-02-21FY21Revenue $29.88BNet income −$1.99B0000006201-24-000010 · filed 2024-02-21FY2022 · Revenue $48.97B · Net income $127.0M · 0000006201-25-000010 · filed 2025-02-19FY22Revenue $48.97BNet income $127.0M0000006201-25-000010 · filed 2025-02-19FY2023 · Revenue $52.79B · Net income $822.0M · 0000006201-26-000014 · filed 2026-02-18FY23Revenue $52.79BNet income $822.0M0000006201-26-000014 · filed 2026-02-18FY2024 · Revenue $54.21B · Net income $846.0M · 0000006201-26-000014 · filed 2026-02-18FY24Revenue $54.21BNet income $846.0M0000006201-26-000014 · filed 2026-02-18FY2025 · Revenue $54.63B · Net income $111.0M · 0000006201-26-000014 · filed 2026-02-18FY25Revenue $54.63BNet income $111.0M0000006201-26-000014 · filed 2026-02-18FY25Revenue $54.63BNet income $111.0M0000006201-26-000014 · filed 2026-02-18FY13FY15FY17FY19FY21FY23FY25

revenue 2.0× since FY2013 · net margin -6.9% → 0.2%

MarginsNet marginFCF margin
-40%-20%0%20%FY2013 · Net margin -6.9% · FCF margin -9.1%FY13Net margin -6.9%FCF margin -9.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 6.8% · FCF margin -5.2%FY14Net margin 6.8%FCF margin -5.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 18.6% · FCF margin 0.2%FY15Net margin 18.6%FCF margin 0.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 6.4% · FCF margin 2.0%FY16Net margin 6.4%FCF margin 2.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 3.0% · FCF margin -2.9%FY17Net margin 3.0%FCF margin -2.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 3.2% · FCF margin -0.5%FY18Net margin 3.2%FCF margin -0.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 3.7% · FCF margin -1.0%FY19Net margin 3.7%FCF margin -1.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin -51.2% · FCF margin -49.0%FY20Net margin -51.2%FCF margin -49.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin -6.7% · FCF margin 1.7%FY21Net margin -6.7%FCF margin 1.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 0.3% · FCF margin -0.8%FY22Net margin 0.3%FCF margin -0.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 1.6% · FCF margin 2.3%FY23Net margin 1.6%FCF margin 2.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 1.6% · FCF margin 2.4%FY24Net margin 1.6%FCF margin 2.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 0.2% · FCF margin -1.2%FY25Net margin 0.2%FCF margin -1.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 0.2%FCF margin -1.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’13’16’19’22’25

FY2025: net 0.2% · free cash flow -1.2% of revenue

Cash engineOperating cash flowFree cash flow
−$5B$0$5BFY2008 · OCF −$1.39B · FCF −$2.27B · 0000950123-11-014726 · filed 2011-02-16FY08OCF −$1.39BFCF −$2.27B0000950123-11-014726 · filed 2011-02-16FY2009 · OCF $930.0M · FCF −$591.0M · 0001193125-12-063516 · filed 2012-02-15FY09OCF $930.0MFCF −$591.0M0001193125-12-063516 · filed 2012-02-15FY2010 · OCF $1.24B · FCF −$721.0M · 0000006201-13-000023 · filed 2013-02-20FY10OCF $1.24BFCF −$721.0M0000006201-13-000023 · filed 2013-02-20FY2011 · OCF $743.0M · FCF −$867.0M · 0000006201-14-000004 · filed 2014-02-28FY11OCF $743.0MFCF −$867.0M0000006201-14-000004 · filed 2014-02-28FY2012 · OCF $1.28B · FCF −$603.0M · 0001193125-15-061145 · filed 2015-02-25FY12OCF $1.28BFCF −$603.0M0001193125-15-061145 · filed 2015-02-25FY2013 · OCF $675.0M · FCF −$2.44B · 0001193125-16-474605 · filed 2016-02-24FY13OCF $675.0MFCF −$2.44B0001193125-16-474605 · filed 2016-02-24FY2014 · OCF $3.08B · FCF −$2.23B · 0001193125-17-051216 · filed 2017-02-22FY14OCF $3.08BFCF −$2.23B0001193125-17-051216 · filed 2017-02-22FY2015 · OCF $6.25B · FCF $98.0M · 0000006201-18-000009 · filed 2018-02-21FY15OCF $6.25BFCF $98.0M0000006201-18-000009 · filed 2018-02-21FY2016 · OCF $6.52B · FCF $793.0M · 0000006201-19-000009 · filed 2019-02-25FY16OCF $6.52BFCF $793.0M0000006201-19-000009 · filed 2019-02-25FY2017 · OCF $4.74B · FCF −$1.23B · 0000006201-20-000023 · filed 2020-02-19FY17OCF $4.74BFCF −$1.23B0000006201-20-000023 · filed 2020-02-19FY2018 · OCF $3.53B · FCF −$212.0M · 0000006201-21-000014 · filed 2021-02-17FY18OCF $3.53BFCF −$212.0M0000006201-21-000014 · filed 2021-02-17FY2019 · OCF $3.81B · FCF −$453.0M · 0000006201-22-000026 · filed 2022-02-22FY19OCF $3.81BFCF −$453.0M0000006201-22-000026 · filed 2022-02-22FY2020 · OCF −$6.54B · FCF −$8.50B · 0000006201-23-000018 · filed 2023-02-22FY20OCF −$6.54BFCF −$8.50B0000006201-23-000018 · filed 2023-02-22FY2021 · OCF $704.0M · FCF $496.0M · 0000006201-24-000010 · filed 2024-02-21FY21OCF $704.0MFCF $496.0M0000006201-24-000010 · filed 2024-02-21FY2022 · OCF $2.17B · FCF −$373.0M · 0000006201-25-000010 · filed 2025-02-19FY22OCF $2.17BFCF −$373.0M0000006201-25-000010 · filed 2025-02-19FY2023 · OCF $3.80B · FCF $1.21B · 0000006201-26-000014 · filed 2026-02-18FY23OCF $3.80BFCF $1.21B0000006201-26-000014 · filed 2026-02-18FY2024 · OCF $3.98B · FCF $1.30B · 0000006201-26-000014 · filed 2026-02-18FY24OCF $3.98BFCF $1.30B0000006201-26-000014 · filed 2026-02-18FY2025 · OCF $3.10B · FCF −$680.0M · 0000006201-26-000014 · filed 2026-02-18FY25OCF $3.10BFCF −$680.0M0000006201-26-000014 · filed 2026-02-18FY25OCF $3.10BFCF −$680.0M0000006201-26-000014 · filed 2026-02-18’09’13’17’21’25

FY2025: $3.10B operating cash − $3.78B capex = −$680.0M free cash flow

Returns on capitalReturn on equityReturn on assets
-1500%-1000%-500%0%FY2009 · ROE 42.1% · ROA -5.8%FY09ROE 42.1%ROA -5.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 11.9% · ROA -1.9%FY10ROE 11.9%ROA -1.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 27.8% · ROA -8.3%FY11ROE 27.8%ROA -8.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 23.5% · ROA -8.0%FY12ROE 23.5%ROA -8.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 67.2% · ROA -4.3%FY13ROE 67.2%ROA -4.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 142.6% · ROA 6.7%FY14ROE 142.6%ROA 6.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 135.0% · ROA 15.7%FY15ROE 135.0%ROA 15.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 68.3% · ROA 5.0%FY16ROE 68.3%ROA 5.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE -164.4% · ROA 2.4%FY17ROE -164.4%ROA 2.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE -835.5% · ROA 2.3%FY18ROE -835.5%ROA 2.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE -1428.8% · ROA 2.8%FY19ROE -1428.8%ROA 2.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 129.4% · ROA -14.3%FY20ROE 129.4%ROA -14.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 27.2% · ROA -3.0%FY21ROE 27.2%ROA -3.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE -2.2% · ROA 0.2%FY22ROE -2.2%ROA 0.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE -15.8% · ROA 1.3%FY23ROE -15.8%ROA 1.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE -21.3% · ROA 1.4%FY24ROE -21.3%ROA 1.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE -3.0% · ROA 0.2%FY25ROE -3.0%ROA 0.2%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE -3.0%ROA 0.2%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity 42% (FY2009) → -3% (FY2025) · on assets 0.2%

The receipts